Konecranes Plc (OTCMKTS:KNCRY) Sees Large Growth in Short Interest

Konecranes Plc (OTCMKTS:KNCRY – Get Rating) was the target of a large growth in short interest in the month of March. As of March 31st, there was short interest totalling 600 shares, a growth of 50.0% from the March 15th total of 400 shares. Based on an average daily volume of 100 shares, the days-to-cover ratio is currently 6.0 days.

A number of equities analysts recently weighed in on the company. UBS Group decreased their price target on Konecranes from €47.00 ($51.09) to €44.00 ($47.83) in a research report on Wednesday. Morgan Stanley reduced their price objective on Konecranes from €41.00 ($44.57) to €38.00 ($41.30) in a research note on Monday, April 4th.

Shares of Konecranes stock opened at $5.57 on Friday. The stock has a 50-day moving average price of $6.95 and a 200 day moving average price of $7.60. Konecranes has a 1 year low of $5.57 and a 1 year high of $8.14.

The firm also recently disclosed a dividend, which will be paid on Tuesday, April 26th. Investors of record on Friday, April 1st will be paid a $0.1143 dividend. This represents a yield of 1.63%. The ex-dividend date of this dividend is Thursday, March 31st.

Konecranes Company Profile (Get Rating)

Konecranes Plc manufactures, sells, and services cranes, lifting equipment, and machine tools worldwide. It operates through three segments: Service, Industrial Equipment, and Port Solutions. The company offers specialized maintenance services and spare parts for industrial cranes and hoists. It also provides a range of industrial cranes for general manufacturing and various process industries; and crane components and lifting equipment solutions to other crane manufacturers and distributors.

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